“Ocean plastic solutions investment accelerator: reducing plastic pollution” is open for UK businesses for a share of up to £2 million. The competition invites UK companies to develop solutions to tackle the environmental crisis of plastic pollution in the world’s oceans.

This investment accelerator competition provides £1 million grant funding from Innovate UK and £1 million private investment from Sky Ocean Ventures for early stage projects. The competition is open to single UK small and micro companies who are looking for grant funding and who want to establish an equity relationship with Sky Ocean Ventures.

The aim of this competition is to support new scientific or technological innovation to reduce plastics waste and deliver a more circular economy approach to plastic use (including for polymer-based textiles and elastomers). For example, this could include:

scalable innovations along the entire plastics value chain, from material to end of life

technology-enhanced business models that foster responsible consumption and drive the circular economy model

step-change efficiency improvements in the recycling, clean-up and treatment of waste plastics

Projects should describe how they aim to reduce plastic waste and pollution of the wider environment. You should clearly describe where revenue generation and growth will occur in the UK as a result of the innovation and its exploitation.